Richmond, Dec. 08, 2023 (GLOBE NEWSWIRE) -- According to a research report "AI in Video Surveillance Market”, by Deployment Type (On-premise, Cloud-based), Offering (Hardware (AI Cameras, Storage Devices, Servers, Monitors), Software (AI Video Management, AI-driven Video Analytics) Services (Video Surveillance as a Service, Installation & Maintenance)), Vertical (Commercial, Infrastructure, Public Facility, Military & Defense, Residential, Industrial) and Region - Global Forecast to 2030.
Global AI in Video Surveillance Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 5.9 Billion |
| Market size value in 2030 | USD 25.3 Billion |
| CAGR (2023-2030) | 23.1% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Deployment Type, Offering, Software, Vertical and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on AI in Video Surveillance Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global AI in video surveillance market plays a pivotal role in the overall ecosystem by leveraging advanced artificial intelligence technologies to enhance the efficiency and effectiveness of video surveillance systems. AI-powered video analytics enable automated detection, recognition, and analysis of objects and behaviors in real-time, significantly improving the accuracy and speed of threat identification. This not only enhances security measures but also reduces the burden on human operators, allowing them to focus on more complex tasks. The integration of AI in video surveillance contributes to proactive threat management, making it a crucial component for safeguarding critical infrastructures, public spaces, and private facilities.
Furthermore, the adoption of AI in video surveillance benefits the industry by optimizing resource utilization and operational costs. AI algorithms can intelligently filter and analyze vast amounts of video data, providing valuable insights for preventive maintenance, crowd management, and operational planning. The automation and intelligence brought by AI contribute to a more robust and responsive security infrastructure, fostering a safer environment for businesses and communities. Overall, the Global AI in Video Surveillance market is instrumental in transforming traditional surveillance systems into smart and adaptive solutions, offering a strategic advantage in addressing evolving security challenges.
Major Vendors in the Global AI In Video Surveillance Market:
- Genetec, Inc.
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Zhejiang Dahua Technology Co., Ltd.
- Avigilon Corporation (Motorola Solutions)
- NEC Corporation
- Honeywell International Inc.
- CloudWalk Technology Co. Ltd.
- Panasonic Holdings Corporation
- Huawei Technologies Co., Ltd.
- Corsight AI
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Increasing Demand for Advanced Video Analytics
The global AI in video surveillance market is experiencing a significant boost due to the rising demand for advanced video analytics solutions. Traditional video surveillance systems often struggle with the sheer volume of data generated, making it challenging for human operators to analyze and derive meaningful insights in real-time. AI-driven video analytics, powered by machine learning algorithms, have emerged as a transformative solution. These technologies can process massive amounts of video data, automatically identify patterns, and detect anomalies or potential threats with a high level of accuracy.
Advanced video analytics systems leverage object recognition, facial recognition, and behavior analysis to enhance security measures. For instance, facial recognition algorithms enable the identification of individuals in real-time, contributing to improved security and surveillance efficiency. Moreover, the integration of AI in video surveillance allows for proactive threat detection, reducing response times and enhancing overall security measures. The increasing awareness of these capabilities is driving the adoption of AI in video surveillance across various sectors, including government, retail, transportation, and critical infrastructure.
Market Dynamics
Drivers:
- Increasing demand for advanced security solutions.
- Growing prevalence of video analytics and deep learning technologies.
- Rising concerns about public safety and terrorism.
- Integration of AI with video surveillance for real-time threat detection.
Opportunities:
- Advancements in facial recognition and object detection technologies.
- Expansion of smart cities and IoT infrastructure.
- Rising adoption of cloud-based video surveillance solutions.
- Emergence of edge computing for decentralized processing in surveillance systems.
Surge in Smart City Initiatives
The global push toward building smart cities is another major driver for the adoption of AI in video surveillance. Smart cities leverage advanced technologies, including AI, to enhance overall urban living, safety, and resource management. Video surveillance plays a pivotal role in the development of smart city infrastructure, providing real-time monitoring and analysis of public spaces. AI algorithms enable the automatic detection of unusual activities, traffic management, and crowd monitoring, contributing to the efficient functioning of urban environments.
As governments worldwide invest in smart city initiatives, the demand for AI-powered video surveillance solutions is witnessing a substantial increase. These solutions not only enhance public safety but also aid in optimizing city operations. The integration of AI-driven video analytics in smart city frameworks enables data-driven decision-making, leading to more effective urban planning and resource allocation.
Asia-Pacific dominates the market for AI in Video Surveillance.
The Asia-Pacific (APAC) region dominates the global AI in video surveillance market, with China being a key contributor. The region's leadership is attributed to the rapid urbanization, increasing security concerns, and substantial government investments in smart city projects. China, in particular, is a major player, deploying advanced AI technologies in video surveillance for public safety and urban management. The European market follows closely, with a focus on technological innovation and stringent regulations driving the adoption of AI in video surveillance.
Looking ahead, countries in the Middle East, such as the United Arab Emirates (UAE), are emerging as high-growth markets due to their investments in smart city initiatives and the need for robust security measures. Additionally, Latin American countries like Brazil are witnessing a growing demand for AI in video surveillance to address security challenges. These regions offer significant growth potential as they increasingly prioritize the integration of AI technologies for enhanced security and urban development.
The Material Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global AI in Video Surveillance market, the Hardware segment, encompassing AI cameras, storage devices, servers, and monitors, stands out as the dominant force. This dominance can be attributed to the crucial role these components play in enhancing the overall efficiency and effectiveness of video surveillance systems. AI Cameras are equipped with advanced features like facial recognition and object detection, bolstering security measures. Storage Devices ensure the seamless retention of vast amounts of high-resolution footage, enabling comprehensive data analysis. The Servers act as the backbone, processing and managing the complex algorithms required for real-time decision-making. Monitors provide a user-friendly interface for monitoring and responding to potential threats. Together, these hardware components form a robust ecosystem that not only addresses security concerns but also facilitates the integration of cutting-edge artificial intelligence technologies, making this segment pivotal in shaping the landscape of AI-powered video surveillance.
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